Canadian company CMX
Renewable Energy Inc has sought a license to build a 150-megawatt solar powerplant in
the central province of Ninh Thuan at an estimated cost of $150 million,
newswire Thanhniennews.com reported.

CMX is the latest
foreign investor to have expressed interest in setting up a solar energyproduction unit in Vietnam after
the government said that it is drafting policies to encourage private
investment in the sector.

According to one of the
plans being considered by the government, state company Electricity
of Vietnam and other electricity distributors will be obliged to buy all the
output from solar power plants in 10-20 years, the government’s website reported.

The country’s first
solar power plant is expected to start functioning next year. It is a
19.2-megawatt plant being built in the central province of Quang Ngai by
Vietnamese investor Thien Tan Group at an estimated VND862 billion ($36.12
million).

Last year South
Korea’s SolarPark Korea sought to build a 300-megawatt plant in another central
province, Ha Tinh, at $650 million.

Another Korean
investor, Hanwha, also reportedly plans to invest $200 million in developing a
100-200-megawatt plant in Thua Thien-Hue.